Wednesday, April 3, 2013

Downtown & Oliver Real Estate Market Update

Downtown & Oliver condo prices, inventory, and number of sales are up in March of 2013, while days-on-market are down.

56 condos have sold on the MLS® in Oliver and Downtown in January of 2013, 13 more than last month and 10 more than in March of 2012. The selling price ranged from $135,000, 563 sq.ft. one bedroom condo in the Glenora Manor, to $745,000, two bedroom and a den, 2082 sq.ft condo in the Illuminada high rise on Jasper Ave.

The average selling price was up by 7.8% from last month and 13% up from March of 2012. The price per square foot was up by $4 to $303. The inventory has increased from 217 to 234 condos available. The average selling price was $306,928 and average list price $316,910 and $312 per sq ft. Current days-on-market have are down to 54 days while sold-to-list price ratio has not changed at 96%.

The current absorption rate for Downtown and Oliver condos as of today stands at 4.2 months.

1 comment:

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